DEPUTY MINISTER OF FINANCE: GROWTH OF IMPORTS AN ADVANCE AGAINST FUTURE ECONOMIC GROWTH IN ARMENIA

Arminfo
2010-04-06 10:24:00

ArmInfo. Growth of imports in Armenia may guarantee future economic
growth judging by its current structure, said Deputy Minister of
Finance Vardan Aramyan in a press conference on Monday.

Commenting on the 16.8% imports growth for Jan-Feb 2010 versus the same
period of the previous year, the deputy minister said that import of
equipment was the largest in total. "Last year the government extended
VAT for import of equipment in the amount of over 300 million drams
for 3 years. That decision encouraged many businessmen to modernize
their productions, which boosted the imports. All this implies more
active rehabilitation of economy and reduction of unemployment,"
V. Aramyan said. He recalled, the National Statistical Service
reported 7.3% unemployment for Feb 2010 which was the same as in Jan
2010. "Unemployment in the country grew till the end of 2009.

In January 2010 it grew as well, whereas in February the growth
stopped for the first time over a long period of time," the deputy
minister said.

In this context, Artsvik Minasyan, parliamentarian (ARFD), Vice
Chairman of the Parliamentary Commission for Finance and Budget,
came out for comparison of the theoretically right decisions with
their putting in practice. "There are several examples when the
customs authorities delayed import of equipment "backed by" all the
necessary documents just because of bureaucratic hurdles. For instance,
a businessman earlier declared he would import a 6-ton scales but
imported a 12-ton scales since he could buy them on more favorable
terms. However, this difference was enough for customs officers to
create serious obstacles to import," A. Minasyan said.